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Limitations or Drawbacks of Receipts and payments account

Rajkumar Yaduwanshi 9th Sep, 2021

Answer (1)

Heena Agrawal 9th Sep, 2021

hi...

Disadvantages of Receipts and Payment Account

It does not differentiate capital and revenue expenses and incomes. ...
It fails to show the transactions on an accrual basis.
It does not define any targets making it incapable of showing surpluses and deficits at the end of the year.

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